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Updated over 4 years ago,
Should we let this one go?
Anyone know of any HMLs that are still lending to newbie investors during this time? We went under contract on a property on 3/11 with a HML. Unfortunately just as the everything started to happen of course they backed out and changed many of their requirements. We've tried calling around and many of the HMLs that are still lending are now asking for experience. Starting to wonder if we should just walk away from this deal. The initial closing was supposed to happen 5/1, we have just received the request to extend the contract but worried we may not find the financing in time, considering not resigning the contract.
Where's the help for newbies during this time? How do you get pass being a newbie if the lenders aren't willing to give you a chance? Any advice?